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Reuters

Fed may slow pace of rate hikes soon: Brainard

(Reuters) -The Federal Reserve will likely soon slow its interest rates hikes, Fed Vice Chair Lael Brainard signaled on Monday, as the U.S. central bank tries to figure out how high borrowing costs need to go and how long they should stay there to bring down inflation. “I think it will probably be appropriate soon to move to a slower pace of increases, but I think what’s really important to emphasize is… we have additional work to do,” Brainard said in an interview with Bloomberg in Washington. Brainard is the second ranking Fed official in as many days, along with Governor Christopher Waller on Sunday, to indicate the Fed is ready to begin moving in smaller rate hike increments as soon as its December meeting, while still emphasizing what Brainard called the central bank’s “resolve” to keep pushing rates higher as needed to battle a surge of inflation.

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